Let’s pick a topic. Any topic. How much would you say you know on that topic? More than average? How much do you think you need to learn in order to become well-versed on that topic? Not a whole lot? You just may be experiencing what is known as the Dunning-Kruger Effect. It is a mental bias that seems to afflict people who are unskilled or not very knowledgeable. They routinely make poor decisions because their lack of competence itself denies them the ability to realize their lack of competence. It happens to a lot of us in certain areas like personal financial planning.